How to trade cryptocurrencies – basics of investing in digital currencies

Whether it is the idea of ​​the cryptocurrency itself or the diversification of their portfolio, people from all walks of life are investing in digital currencies. If you’re new to the concept and wondering what’s going on, here are a few basic concepts and considerations for investing in cryptocurrencies.

What cryptocurrencies are available and how do I buy them?

With a market capitalization of about $ 278 billion, bitcoin is the most recognized cryptocurrency. Ethereum is second with a market capitalization of over $ 74 billion. In addition to these two currencies, there are a number of other options, including Ripple ($ 28 billion), Litecoin ($ 17 billion) and MIOTA ($ 13 billion).

Since we are the first on the market, there are many stock exchanges for bitcoin trading around the world. BitStamp and Coinbase are two well-known stock exchanges in the United States. Bitcoin.de has established a European stock exchange. If you are interested in trading other digital currencies together with Bitcoin, then the crypto market is a place where you will find all digital currencies in one place. Here is a list of stock exchanges according to their 24-hour trading volume.

What options do I have to store my money?

Another important issue is the storage of coins. One of the options is, of course, to store them on the stock exchange where you buy them. However, you will need to be careful when choosing an exchange. The popularity of digital currencies has led to the emergence of many new, unknown stock exchanges everywhere. Take the time to perform due diligence to avoid scammers.

Another option you have with cryptocurrencies is that you can store them yourself. One of the safest options for saving your investment is hardware wallets. Companies like Ledger allow you to store Bitcoins and several other digital currencies.

What is the market like and how can I find out more about it?

The cryptocurrency market varies a lot. The unstable nature of the market makes it more suitable for long-term play.

There are many established news sites that report on digital currencies, including Coindesk, Business Insider, Coin Telegraph, and Cryptocoin News. In addition to these sites, there are many Twitter accounts tweeting about digital currencies, including @BitcoinRTs and @AltCoinCalendar.

Digital currencies aim to disrupt the traditional currency and commodity market. Although these currencies still have a long way to go, the success of Bitcoin and Ethereum has proven that there is a genuine interest in the concept. Understanding the basics of investing in cryptocurrencies will help you go in the right direction.

The 6 most common mistakes made by new Bitcoin traders

Are you thinking about starting in the world of crypto trading? If so, make sure you avoid the most common mistakes. You will be better than most crypto merchants by avoiding these mistakes. Interestingly, almost every trader makes these mistakes without even realizing it. Without further ado, let’s check out these common mistakes. Read on to find out more.

1. Emotional decision making

Beginners tend to trade emotionally. But the thing is, trading has nothing to do with your emotions. In fact, if you make decisions based on your emotions, you will be on the path to failure.

2. Buy high and sell low

Another common mistake that beginners make is buying expensive and selling cheaply. You don’t want to become greedy while doing this job. What you need to do is buy at a low price and sell expensively. This is the only way to make a profit by trading bitcoins.

3. Sell all at once

Because of the two mistakes mentioned above, beginners buy or sell their Bitcoins at once instead of buying and selling them gradually in small quantities. If you ask an experienced trader, he will ask you to sell 20% of your Bitcoin after 50% profit. But the problem is that new retailers are too willing to sell. So they have no money to buy dips. Some of them sell all their Bitcoins at once.

4. Buying the wrong currency

The new store buys cryptocurrencies that make tons of promises using big words. But they do not know that these currencies do not provide any technical innovations, such as Litecoin, NEO, Tron and EOS, to name just a few. The problem is that they are fairly centralized blockchains. So you may want to avoid them.

5. Putting eggs in too many baskets

Due to a previous mistake, beginners tend to invest in many cryptocurrencies. This is not a good idea because it can make it difficult for you to make money. Ideally, you may want to invest in 3 to 4 coins. In the world of cryptocurrency, you can’t afford to put all your eggs in tons of baskets.

6. Putting all the eggs in one basket

Another common mistake is to put all the eggs in the same basket. Ideally, you need to have a well-diversified portfolio. In addition, you may not want to deposit all of your cryptocurrencies in the same wallet or exchange office. What you need to do is use at least three wallets. This will help you protect your investment.

In short, these are just some of the most common mistakes that new cryptocurrency traders make. If you follow these steps, you are less likely to make these mistakes. As a result, your investment will be secure and you are more likely to make a profit than a loss. We hope that these tips will help you start as a new trader and make a big profit.

How does cryptocurrency gain in value?

Cryptocurrencies are the latest ‘big thing’ in the digital world and are now recognized as part of the monetary system. In fact, enthusiasts have labeled it a ‘money revolution’.

Clearly, cryptocurrencies are decentralized digital assets that can be exchanged between users without the need for central authority, most of which are created by special computational techniques called “mining”.

Acceptance of currencies, such as the US dollar, the British pound and the euro, as legal tender is because they were issued by the central bank; digital currencies, however, such as cryptocurrencies, do not depend on public confidence and trust in the issuer. As such, several factors determine its value.

Factors determining the value of cryptocurrencies

Principles of a free market economy (mainly supply and demand)

Supply and demand are the main determinants of the value of anything of value, including cryptocurrencies. This is because if more people are willing to buy a cryptocurrency and others are willing to sell, the price of that particular cryptocurrency will rise, and vice versa.

Mass Adoption

Mass adoption of any cryptocurrency can jump the price per month. This is because the supply of many cryptocurrencies is limited to a certain limit and, according to economic principles, an increase in demand without a corresponding increase in supply will lead to an increase in the price of that particular commodity.

More cryptocurrencies have invested more resources to ensure their mass adoption, and some have focused on the applicability of their cryptocurrency to urgent personal issues as well as key everyday cases, with the intention of making them indispensable in everyday life.

Fiat Inflation

If a fiat currency, such as the USD or GBP, becomes inflated, its price rises and its purchasing power declines. This will then cause an increase in the cryptocurrency (we use Bitcoin as an example) compared to that fiat. The result is that with each bitcoin you will be able to acquire more of that fiat. In fact, this situation was one of the main reasons for the increase in the price of Bitcoin.

Fraud and the history of cyber attacks

Fraud and hacks are also key factors that affect the value of cryptocurrencies, as they are known to cause wild changes in valuations. In some cases, a team that supports cryptocurrency may be fraudsters; they will pump up the price of cryptocurrency to attract unsuspecting individuals, and when their hard-earned money is invested, fraudsters cut the price, which then disappears without a trace.

It is therefore imperative that you watch out for cryptocurrency scams before investing your money.

Some other factors to consider that affect the value of cryptocurrencies include:

  • The way cryptocurrency is stored, as well as its usefulness, security, ease of acquisition and cross-border acceptability

  • The strength of a community that supports cryptocurrency (this includes funding, innovation and loyalty of its members)

  • Low related cryptocurrency risks as perceived by investors and users

  • Sense of news

  • Market liquidity and cryptocurrency volatility

  • Government regulations (this includes banning cryptocurrency and ICO in China and accepting it as legal tender in Japan)

Coinbase: Bitcoin startups are expanding to take over most of the market

The price of bitcoin skyrocketed in 2017. Coinbase, one of the world’s largest cryptocurrency exchanges, was in the right place at the right time to take advantage of rising interest rates. Even so, Coinbase is not interested in taking its crypto winnings for granted. To stay ahead in the much larger cryptocurrency market, the company is putting money back into its master plan. By 2017, the company’s revenue was $ 1 billion, and over $ 20 billion was traded to over 20 million customers.

Coinbase, a San Francisco-based company known as the leading cryptocurrency trading platform in the United States and with its continued success, ranked 10th on the CNBC Disruptor list in 2018 after failing to find itself on the list for the previous two years. .

On its way to success, Coinbase has left no stone unturned in the hunt for key executives from the New York Stock Exchange, Twitter, Facebook and LinkedIn. In the current year, the size of his permanent engineering team has almost doubled.

Earn.com bought Coinbase this April for $ 100 million. This platform allows users to send and receive digital currency while replying to mass market emails and performing micro tasks. Currently, the company plans to bring in former Andreessen Horowitz venture capitalist, founder Earns and CEO as its first chief technology officer.

According to current estimates, Coinbase was estimated at about $ 8 billion when it set out to buy Earn.Com. This value is much higher than the value of $ 1.6 billion estimated in the last round of venture capital financing in the summer of 2017.

Coinbase declined to comment on its estimate despite having more than $ 225 million in funding from top VCs, including Union Square Ventures, Andreessen Horowitz and also from the New York Stock Exchange.

To meet the needs of institutional investors, the New York Stock Exchange plans to launch its own cryptocurrency exchange. The Nasdaq, a rival of the NYSE, is also considering a similar move.

• Competition is coming

As competing organizations want to bite into Coinbase’s business, Coinbase is looking for other venture capital opportunities in an attempt to build a ditch around the company.

Dan Dolev, a Nomura instant analyst, said Square, a company run by Twitter CEO Jack Dorsey, could eat up Coinbase’s currency business as it began trading cryptocurrencies in its Square Cash app in January.

According to Dolev’s estimates, average trading fees for Coinbase were approximately 1.8 percent in 2017. Such fees could force users to other cheaper exchanges.

Coinbase wants to become a comprehensive hub for institutional investors while at the same time protecting its foreign exchange business. In order to attract investors to this class of white gloves, the company announced a fleet of new products. This class of investors was especially careful in plunging into the unstable cryptocurrency market.

Coinbase Prime, The Coinbase Institutional Coverage Group, Coinbase Custody and Coinbase Markets are products launched by the company.

Coinbase believes there are billions of dollars of institutional money that can be invested in digital currency. It already owns $ 9 billion in client assets.

Institutional investors are concerned about security despite knowing that Coinbase has never suffered a hack like some other global cryptocurrency exchanges. The Coinbase president and CEO said the impetus for launching Coinbase custody last November was a lack of trusted custodians to protect their crypto assets.

• Currently Wall Street is moving from Bashing Bit to Cryptocurrency Backer

According to the latest data available from Autonomous Next Wall Street, interest in cryptocurrencies seems to be growing. There are currently 287 crypto hedge funds, while in 2016 there were only 20 hedge funds for cryptocurrencies. Goldman Sachs has even opened a table for cryptocurrency trading.

Coinbase also introduced Coinbase Ventures, which is an incubation fund for early-stage beginners working in cryptocurrencies and blockchain space. Coinbase Ventures has already accumulated $ 15 billion for further investments. His first investment was announced in a startup called Compound, which allows lending or lending cryptocurrency at an interest rate.

In early 2018, the company launched Coinbase Commerce, which allows merchants to accept major cryptocurrencies for payment. Another bitcoin startup was BitPlay, which recently raised $ 40 million in risky money. Last year, BitPlay processed more than $ 1 billion in bitcoin payments.

Proponents of blockchain technology believe that in the future, cryptocurrencies will be able to eliminate the need for central banking authorities. In the process, this will reduce costs and create a decentralized financial solution.

• Regulatory safety remains intensive

In order to limit access to four cryptocurrencies, Coinbase has provoked much criticism. But they must be careful as U.S. regulators consider how to control certain uses of the technology.

For cryptocurrency exchanges such as Coinbase, the question is whether cryptocurrencies are securities that would be under the jurisdiction of the Securities and Exchange Commission. Coinbase is admittedly slow with the addition of new coins as the SEC announced in March that it would apply security laws to all cryptocurrency exchanges.

The Wall Street Journal reported that Coinbase met with SEC officials to register it as a licensed venue for brokerage and e-commerce. In such a scenario, Coinbase would find it easier to support multiple coins and comply with security regulations.

5 reasons why cryptocurrency is so popular

In recent years, cryptocurrency has been a hot topic around the world. Most people are now familiar with cryptocurrencies, especially Bitcoin. In fact, Bitcoin is at the top of the list of cryptocurrencies. If you have no idea why cryptocurrency is growing in popularity around the world, you are on the right page. In this article, we will discuss 5 reasons why this new type of currency is so popular. Read on to find out more.

1. Low transaction fees

The low transaction fee is one of the primary reasons why the value of cryptocurrencies has risen in recent years. No matter what type of conventional payment method you use, you will have to pay a large transaction fee.

On the other hand, if you opt for a cryptocurrency for payment, you will have to pay minimum transaction fees. Therefore, it makes sense to use this new form of currency for online payments for desired products and services.

2. There are no government regulations

Another strong reason why many people trust cryptocurrencies is that they are not regulated by any government. Thus, the value of the currency remains stable regardless of the government of a particular country.

Also, some investors want to protect their wealth, which is why they invest in cryptocurrencies. In other words, cryptocurrencies are much more secure than conventional currencies, which makes them quite attractive here and now.

3. Great profit potential

Another great reason why cryptocurrencies are an ideal choice is that they offer great potential for profit. If you buy Bitcoin when prices are low, you can make a big profit the moment the value of bitcoin rises again.

Investors have made a lot of money over the past few years. So, there is potential if you are interested in investing money in your desired cryptocurrency.

4. Easier to use

As time goes on, it becomes easier to use cryptocurrency. The reason is that many online companies are starting to accept payments through this type of currency. In the near future, almost every company will accept payment via popular cryptocurrencies.

As more people start using cryptocurrency around the world, it will be even easier to buy currency and make their payments online.

5. General safety

Your money and identity are of the utmost importance. Today, cyber security is one of the biggest problems you can face. Thus, using cryptocurrency to pay online is much more secure than conventional payment methods.

So, if you are worried about paying online, we suggest you try cryptocurrency. In other words, security is another big reason why people use cryptocurrencies.

In short, here are 5 reasons why cryptocurrency is so popular around the world. All you need to do is make sure you opt for one of the best cryptocurrencies. It is not a good idea to put your hard-earned money in a currency that has no potential for growth.

Best Cryptocurrencies for 2018: What are the best Bitcoin alternatives?

Important: This position should not be considered investment advice. The author focuses on the best coins in terms of actual use and adoption, not from a financial or investment perspective.

In 2017, cryptographic markets set a new standard for easy profit. Almost every piece or chip has made amazing returns. “The rising tide is throwing all the boats,” as they say, and the end of 2017 was a flood. The price increase has created a cycle of positive feedback, which is attracting more and more capital to Crypto. Unfortunately, but inevitably, this galloping market leads to huge investments. Money has been thrown indiscriminately into all sorts of dubious projects, many of which will not bear fruit.

In the current bearish environment, hype and greed have been replaced by critical appraisal and prudence. Especially for those who have lost money, marketing promises, endless shillings and charismatic oratorios are no longer enough. Well, the main reasons for buying or keeping coins are again Paramount.

The main factors in the assessment of cryptocurrency-

There are some factors that tend to overcome hype and cost, at least in the long run:

Adoption angle

While cryptocurrency or ICO business plan technology may seem surprising without users, they are just dead projects. It is often forgotten that widespread acceptance is an essential feature of money. In fact, it is estimated that over 90% of the value of Bitcoin is a function of the number of users.

While acceptance of Fiat is entrusted to the state, acceptance of cryptography is purely voluntary. Many factors influence the decision to accept a coin, but perhaps the most important factor is the probability that others will accept the coin.

Security

Decentralization is necessary for the I push model of real cryptocurrency. Without decentralization, we are a little closer to the Ponzi scheme than the real cryptocurrency. Trust in individuals or institutions is a problem – cryptocurrency is trying to solve.

If dismantling a coin or a central controller can change the transaction record, it jeopardizes its basic security. The same goes for parts with unverified code that haven’t been thoroughly tested in years. The more you can count on the code to work as described, regardless of human influence, the greater the security of the coin.

Innovation

Valid coins seek to improve their technology, but not to the detriment of security. Real technological advancement is rare because it requires a lot of expertise – but also wisdom. Although there are always fresh ideas that can be tricked, if this leads to vulnerability or criticism of the original purpose of the coin, it misses the point.

Innovation can be a difficult factor to assess, especially for non-technical users. However, if the currency stagnates or does not receive updates that address important issues, it may be a sign that developers are weak in terms of ideas or motivation.

Incentives

It is easier for the average person to understand the economic incentives inherent in a currency. If the coin had a big pre-min or the ICO (initial offer) the team had a significant share of chips, then it is quite obvious that the main motivation is profit. By buying what the team offers, you play your game and enrich it. Be sure to provide tangible and reliable value in return.

5 cryptocurrencies for purchase in 2018

There has never been a better time to re-evaluate and balance a cryptographic portfolio. Based on their solid foundation, here are five pieces that I think are worth keeping or maybe buying at their current depressing prices (which, we just warn you, could go lower).

# 1. Bitcoin (due to its decentralization)

Number one belongs to Bitcoin (BTC), which remains the market leader in all categories. Bitcoin has the highest price, the broadest assumption, most security (due to the phenomenal energy consumption of Bitcoin mining), the most famous brand identity (forks have tried to be appropriate), and most development Active and rational. It is also the only piece to date represented in traditional markets in the form of Bitcoin futures on the US CME and CBOE.

Bitcoin remains the main engine; The performance of all other parts is highly correlated with the performance of Bitcoin. My personal expectation is that the gap between Bitcoin and most, if not all other parts, will widen.

Bitcoin has several promising innovations in preparation that will soon be installed as additional layers or soft forks. Examples are Flash system (LN), tree, Schnorr signatures Mimblewimbleund much more.

In particular, we plan to open a new range of applications for Bitcoin, because it enables large, microtransactions and instant and secure payments. LN is becoming more stable as users test their various capabilities with real Bitcoin. As it becomes easier to use, it can be assumed that it has great benefits from the adoption of Bitcoin.

# 2. Litecoin (because of its consistency)

Litecoin (LTC) is a clone of Bitcoin with a different hash algorithm. Although Litecoin no longer has Bitcoin anonymity technology, incredible reports have shown that the adoption of Litecoin in dark markets is now the second, only bitcoin. Although the currency I have is much more appropriate for the role of acquiring illegal goods and services, it may be presented as a result of the longevity of Litecoin: it was launched in late 2011.

Another factor in favor of Litecoin is that it integrates Bitcoin SegWit technology, which means that Litecoin is ready for LN. Litecoin can benefit from the exchange of atomic chains. In other words, secure peer-to-peer currency trading without the involvement of third parties (i.e. exchange). Because Litecoin keeps its code largely in sync with Bitcoin, it is in a good position to benefit from Bitcoin’s technical advances.

# 3. Ethereum (due to intelligent contracts)

Ethereum (ETH) is currently having some major problems. First of all, governments are shooting at ICOs, and rightly so: many have turned out to be either fake or bankrupt. Since most icos run on the Ethereum network as an ERC token 20, ICO mania has brought great value to Ethereum in recent years. If appropriate investor protection rules are in place, scams in Ethereum projects may require some legitimacy as a crowdfunding platform.

Another major problem facing Ethereum is the delayed transition to a new hybrid performance and battery detection system. Ethereum’s mining GPU is currently profitable, but Bitmain has just announced Ethereum ASIC minor, which is likely to have an impact on lower-line GPU miners. It remains to be seen whether this will change prisoners of war and how successful that change will be.

If Ethereum can survive these two main problems – regulation and mining – it will show great resilience. By the way, there are several competing currencies that follow its shadows, such as Ethereum Classic (etc.), Cardano (ADA) and EOS.

# 4. Monero (due to his anonymity)

While its adoption in dark markets is not all that could be expected, I (XMR) remains the prime minister’s privacy. Its reputation and market capitalization are still above those of its rivals – and with good reason.

Monero’s code required less self-confidence than Zcash’s “loyal” key ceremony, and it had a fair start, unlike Dash’s. The fact that Monero recently changed its Pow to defeat the development of a small ASIC for its algorithm confirms the commitment of part of mining decentralization. The significant drop in the hash rate is due to the new version, which is constantly reported against ASIC. This could also be an opportunity for GPUs and even smaller processors to contact me. The new version of Monero, 0.12, also includes other improvements that show that Monero continues to grow along sensitive lines.

# 5. iPRONTO (decentralized incubation platform)

iPRONTO is an Ethereum chain incubation platform dedicated to investors looking for a safe and reliable platform to invest in new ideas and future innovators who can present their ideas and get opinions from users, experts in the field of practice and implementation of derived ideas.

The ideas of the innovators are supported because the NES in the Smart Contract format will be signed between the expert platform and the customer if the business idea of ​​the client is sent to the Commission for testing and registration on the platform. The idea will not be published for all users on the chain’s public platform, but only for selected members of the target community who are willing to sign a Smart contract to maintain the confidentiality of the idea.

How cryptocurrency trading software helps develop your crypto platform

The cryptocurrency trading software package is an integrated system for managing all aspects of the cryptocurrency trading platform such as all types of buying, selling, cryptocurrency exchange, lending, MLM and affiliate management, conversion, live market comparisons and analysis, etc.

Important features you should consider:

Buy, Sell and Exchange: Nishue is an impressive trading management system that offers a smooth and secure methodology for your customers to effortlessly buy, sell and exchange cryptocurrencies.

Lending system management: This system is fully suitable for brokers and has a system for managing the crypto lending service, such as creating bid management, maintenance and moderation, etc.

Unique Admin Module: Nishue contains a secure and advanced Admin Module for you to control your cryptocurrency exchange from end to end.

Separate user profile: A separate user profile module that helps your users to easily track and verify all open deposit or withdrawal orders, records, transactions, etc. just one click.

MLM and Affiliate Management: These marketing-ready automation tools make it easy to manage partner commission, contribution history, and documents at your level.

Market Comparison and Converter: Two additional systems are integrated for live Crypto Comparison, Conversion & In-Depth Analysis.

How cryptocurrency trading software helps develop your crypto platform:

Coin Deposit and Withdrawal: A crypto merchant must maintain a huge deposit and withdrawal requirement on a daily basis. The trading software helps manage your activities with its automatically set algorithm.

Coin package and loan offer: Keep different coin packages and loan offer at your client’s fingertips. You can create, manage and advertise your offer using a well-designed package.

Commission per level: If you follow an MLM strategy to reward your participants and make sure you set their commission? OK, it’s ready to automatically calculate their commission.

Notification and risk management: Every crypto trading platform must arrange a push notification system to inform itself and its client about many alarming problems and thus help eliminate the risk. In this case, the system design is completely perfect.

Gateway for multiple payments: You can integrate your wallet for cryptocurrencies, local currency, Payeer and even mobile banking as a payment method within this software to make your transaction smooth.

Daily, weekly and monthly ROI: Are you concerned about maintaining the ROI as you said. This cryptocurrency trading management software can automatically calculate ROI, commission and more according to your instructions.

Free Responsive Website: Must have an integrated fully responsive, SEO optimized dynamic website with our system and is completely free. This will help you run your business smoothly.

Crypto comparison, conversion and in-depth analysis: live crypto market capitalization and a system of two coin additions are integrated for live crypto comparison, conversion and depth analysis

100% secured system: Trading software is designed after keeping in mind a very security issue. This cryptocurrency trading software uses a secure Integer framework, two-factor authentication, and many other security systems.

An absolute package exclusively for spot cryptocurrency trading that allows users to trade Bitcoin, Bitcoin Cash, Ethereum and Litecoin via Coinbase. Built on the same technology that drives Nishue software, it includes proven market-leading tools developed over 25 years to provide professional and active cryptocurrency traders with a better experience than what other cryptocurrency-only trading solutions currently offer.

Has cryptocurrency become the dream investment of every Indian?

Rich rewards often carry great risks, and the same is true with a very volatile cryptocurrency market. Uncertainties in 2020 globally have led to increased interest from the masses and large institutional investors in trading cryptocurrencies, a class of new age assets. Increased digitalisation, a flexible regulatory framework and a supreme court that lifted the ban on banks doing business with cryptocurrency-based companies halted the investment of more than 10 million Indians last year. Several major global cryptocurrency exchanges are actively exploring the Indian cryptocurrency market, showing a steady increase in daily trading volume over the past year amid a sharp drop in prices as many investors looked to buy value. As the cryptocurrency craze continues, many new cryptocurrency exchanges have emerged in the country that enable buying, selling and trading by offering functionality through user-friendly applications. WazirX, India’s largest cryptocurrency trading platform, doubled its users from one million to two million between January and March 2021.

What drives the world’s largest crypto exchanges on the Indian market?
In 2019, the world’s largest cryptocurrency exchange by trading volume, Binance bought Indian trading platform WazirX. Another crypto start-up, Coin DCX has secured an investment from Seychelles-based BitMEX and San Francisco-based giant Coinbase. Crypto and blockchain start-ups in India attracted $ 99.7 million in investment by June 15, 2021, for a total of about $ 95.4 million in 2020. In the last five years, global investment in the Indian crypto market has increased for an incredible 1487%.

Despite India’s vague policy, global investors are making big bets on the country’s digital coin ecosystem due to a number of factors such as

• Technologically savvy Indian population
The predominant population of 1.39 billion are young (average age between 28 and 29) and technically savvy. While the older generation still prefers to invest in gold, real estate, patents or stocks, the newer ones accept high-risk cryptocurrency exchanges because they are more flexible. India ranks 11th in the Chainalysis report for 2020 on the list for global adoption of cryptocurrencies, showing excitement around cryptocurrencies among the Indian population. No less than the government’s friendly attitude towards cryptocurrencies or the rumors swirling around cryptocurrencies can shake the confidence of the youth population in the digital coin market.

India offers the cheapest internet in the world, where one gigabyte of mobile data costs around $ 0.26, while the global average is $ 8.53. Thus, nearly half a billion users benefit from affordable internet access, which increases India’s potential to become one of the largest crypto economies in the world. According to SimilarWeb, this country is the second largest source of web traffic to the bitcoin trading platform on an equal footing, Paxful. While the mainstream economy is still struggling with the “pandemic effect,” cryptocurrency is gaining momentum in the country as it provides young generations with a new and fast way to make money.

It can be said with certainty that cryptocurrency could become Indian millennials what is gold for their parents!

• The rise of Fintech start-ups
The craze for cryptocurrencies has led to the emergence of multiple trading platforms such as WazirX, CoinSwitch, CoinDCX, ZebPay, Unocoin and many others. These cryptocurrency exchange platforms are highly secure, available on a variety of platforms and enable instant transactions, providing a friendly interface for crypto enthusiasts to buy, sell or trade digital assets indefinitely. Many of these platforms accept INR for purchases and trading fees of only 0.1%, so simple, fast and secure platforms represent a lucrative opportunity for both first-time investors and local traders.

WazirX is one of the leading cryptocurrency exchange platforms with over 900,000 users that provides users with the possibility of equal transactions. CoinSwitch Kuber provides the best cryptocurrency exchange platform for Indians and is ideal for beginners as well as for everyday people. Unocoin is one of the oldest cryptocurrency exchange platforms in India with over one million traders via mobile applications. CoinDCX provides users with more than 100 cryptocurrencies as an exchange option, and even provides investors with insurance to cover losses in the event of a security breach. So, global investors are looking at the multitude of cryptocurrency exchange platforms in India to take advantage of the emerging market.

• Mixed Government response
A legislative bill banning virtual currency that would criminalize anyone involved in the possession, issuance, mining, trading, and transfer of cryptocurrencies could be passed in law. However, Finance and Corporate Affairs Minister Nirmala Sitharaman eased concerns from some investors by saying the government had no plans to completely ban the use of cryptocurrencies. In a statement given to the leading English newspaper, Deccan Herald, the Minister of Finance said: “For our part, we are very clear that we are not closing all options. We will allow certain windows for people to experiment on blockchain, bitcoins or cryptocurrencies.” It is obvious that the government is still examining the national security risks posed by cryptocurrencies before deciding on a total ban.

In March 2020, the Supreme Court overturned the central bank’s decision to ban financial institutions from operating in cryptocurrencies, prompting investors to gather in the cryptocurrency market. Despite the constant fear of a ban, the volume of transactions continued to grow, and user registration and cash inflows on the local cryptocurrency exchange increased 30 times compared to a year earlier. One of India’s oldest stock exchanges, Unocoin added 20,000 users in January and February 2021. The total volume of Zebpay per day in February 2021 is equivalent to the amount generated throughout February 2020. Dealing with the cryptocurrency scenario in India, the Finance Minister in an interview with CNBC-TV18 said: “I can only give you a hint that we are not closing our minds, but looking for ways in which experiments can take place in the digital world and cryptocurrency.”

Instead of sitting on the sidelines, investors and stakeholders want to make the most of the expansion of the digital coin ecosystem until the government introduces a ban on “private” cryptocurrency and announces a sovereign digital currency.

Is India moving towards financial inclusion with cryptocurrencies?
Formerly considered a “boys’ club ”due to the dominant engagement of the male population in the cryptocurrency market, the ever-growing number of women investors and traders has led to more gender neutrality in the new and digital form of investment methods. Earlier, women stuck to traditional investments, but now they are becoming increasingly risky and entering the crypto space in India. After the Supreme Court clarified the legality of the “virtual currency,” India’s cryptocurrency platform, CoinSwitch witnessed an exponential increase of 1,000% of female users. Although female investors still make up a small percentage of the crypto community, they are creating fierce competition in the Indian market. Women tend to save much more than their male counterparts, and greater savings mean greater diversity in investments such as high-yield assets such as cryptocurrencies. Also, women are more analytical and better at assessing risks before making the right investment choices, so they are more successful investors.

Increasing the usual institutional adoption of cryptocurrencies
Uncertainty and panic caused by SARS-Covid 19 led to a liquidity crisis even before the economic crisis erupted. Many investors have turned their investments into cash to protect their finances, resulting in falling bitcoin and altcoin prices. But even though the cryptocurrency suffered a major crash, it still managed to be the asset class with the best performance in 2020. With the increased vulnerability of the system and the loss of confidence in central bank policies and money in its current design, people have an increased appetite for digital currencies resulting in the return of cryptocurrency. Due to the great performance of cryptocurrency in the midst of the global financial crisis, the upward trend has strengthened interest in the virtual currency market in Asia and the rest of the world.

Furthermore, to stimulate society’s demand for practical and reliable transaction solutions, digital payment applicants such as PayPal have also demonstrated their support for cryptocurrencies that can enable consumers to hold, buy or sell virtual assets. Recently, Tesla CEO Elon Musk announced an investment in the cryptocurrency market worth $ 1.5 billion, and that the electric company will accept bitcoin from customers, which led to an international jump in the price of bitcoin from $ 40,000 to $ 48,000 within two days . The two largest payment platforms worldwide, Visa and Mastercard, also support cryptocurrencies by introducing them as a medium for conducting transactions. While Visa has already announced that it allows transactions with stable coins on the Ethereum blockchain, Mastercard will start transactions with cryptocurrencies sometime in 2021.

What future does the cryptocurrency market in India bring?
The Indian cryptocurrency market is not immune to the terrible declines of cryptocurrencies. Despite huge investments from global partners, local investors remain distancing themselves from crypto investment due to uncertainty over the legality of India’s digital coin ecosystem, as well as high market volatility. Although the cryptocurrency market has been booming since last year, Indians own less than 1% of the world’s bitcoin, creating a strategic disadvantage for the Indian economy. The Indian government plans to appoint a new panel to study the possibilities of regulating digital currencies in the country, as well as focus on blockchain technology and propose it for technological improvements.

The ability of blockchain technology to provide a secure and unchanging infrastructure has been understood by various industries to embed transparency in transactions. For a country with more than 15 million cryptocurrency users, the new board recommendation could be of great value in determining the future of cryptocurrency in India. However, stakeholders believe that technical and economic power will make India a key player in the crypto and blockchain market. Gradually, cryptocurrency is becoming increasingly accepted, which could lead to greater adoption of digital currency.

According to another TechSci Research Report on “Indian Cryptocurrency Market By offer (hardware and software), by process (mining and transactions), by type (Bitcoin, Etgereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, others), by end user (banking, real estate, stock exchange and virtual currency), By regions, forecasts and opportunities, 2026 “, the Indian cryptocurrency is projected to grow with significant CAGR due to the growing demand for transparency and reduced transaction costs. In addition, increasing digital currency adoption and growing blockchain technology are boosting the Indian cryptocurrency market.

Beginner’s Guide: An Introduction to Cryptocurrencies

Introduction: Invest in cryptocurrencies

The first cryptocurrency to emerge was Bitcoin, which was built on Blockchain technology and was probably launched in 2009 by the mysterious person Satoshi Nakamoto. At the time of writing, 17 million bitcoins have been mined, and it is believed that a total of 21 million bitcoins could be mined. The other most popular cryptocurrencies are Ethereum, Litecoin, Ripple, Golem, Civic and Bitcoin hard fork such as Bitcoin Cash and Bitcoin Gold.

Users are advised not to put all their money into one cryptocurrency and try to avoid investing at the peak of the cryptocurrency bubble. It was noticed that the price dropped sharply when it was at the peak of the crypto bubble. Because cryptocurrency is an unstable market, users must invest an amount they can afford to lose because there is no government control over cryptocurrency because it is a decentralized cryptocurrency.

Steve Wozniak, co-founder of Apple, predicted that Bitcoin is real gold and will dominate all currencies like USD, EUR, INR and ASD in the future and become a global currency in the coming years.

Why and why not invest in cryptocurrencies?

Bitcoin was the first cryptocurrency to emerge and after that about 1600+ cryptocurrencies were launched with some unique characteristics for each coin.

Some of the reasons I’ve experienced and would like to share, cryptocurrencies are created on a decentralized platform – so users don’t require a third party to transfer the cryptocurrency from one destination to another, unlike fiat currency where a user needs a platform like Bank to transfer money from one accounts for others. A cryptocurrency built on very secure blockchain technology and almost no chance of hacking and stealing your cryptocurrencies until you share some critical information.

You should always avoid buying cryptocurrencies at the peak of the cryptocurrency bubble. Many of us buy cryptocurrencies at their peak in hopes of making money fast and becoming a victim of hype bubbles and losing their money. It is better for users to do a lot of research before investing money. It is always good to put your money in multiple cryptocurrencies instead of one because it has been observed that several cryptocurrencies grow more, some on average if other cryptocurrencies go into the red zone.

Cryptocurrencies for focusing

In 2014, Bitcoin holds 90% of the market and other cryptocurrencies hold the remaining 10%. In 2017, Bitcoin still dominates the crypto market, but its share fell sharply from 90% to 38%, and Altcoins like Litecoin, Ethereum, Ripple grew rapidly and occupied most of the market.

Bitcoin still dominates the cryptocurrency market, but it is not the only cryptocurrency you need to consider when investing in cryptocurrencies. Some of the main cryptocurrencies you need to consider:

Bitcoin

Litecoin

Ripple

Ethereum

Throne

Civic

Golem

Money

Where and how to buy cryptocurrencies?

Although it was not easy to buy cryptocurrencies a few years ago, users now have many platforms available.

India 2015 has two major bitcoin platforms Unocoin Wallet and Zebpay Wallet on which users can buy and sell only bitcoin. Users must buy bitcoin only from the wallet, but not from another person. There was a price difference in the buying and selling rate and users have to pay some nominal fee to complete their transactions.

In 2017, the cryptocurrency industry grew tremendously, and the price of Bitcoin rose spontaneously, especially in the last six months of 2017, forcing users to look for alternatives to Bitcoin and surpassing 14 lakhs in the Indian market.

As Unodax and Zebpay are the two main platforms in India that dominated the market with 90% market share – dealing only with Bitcoin. This gives another organization a chance to grow with other altcoins and has even forced Unocoin and others to add more currencies to their platform.

Unocoin, one of India’s leading cryptocurrency and blockchain companies, has launched an exclusive UnoDAX Exchange platform for its users to trade multiple cryptocurrencies in addition to trading Bitcoin in Unocoin. The difference between the two platforms was – Unocion provided instant buy and sell of bitcoin only as long as users can order any available cryptocurrency on UnoDAX and if it matches the recipient, the order will be executed.

Other major exchanges available for cryptocurrency trading in India are Koinex, Coinsecure, Bitbns, WazirX.

Users must open an account in any stock exchange by logging in with an email ID and submitting KYC details. Once their account is verified, you can start trading coins of your choice.

Users must research well before investing in any coin and not fall into the cryptocurrency bubble trap. Users need to explore exchange credibility, transparency, security features and more.

All stock exchanges charge a nominal fee for each transaction. There are two types of fees – Maker fee and Taker fee. In addition to the transaction fee, you also need to pay a transfer fee if you want to transfer your cryptocurrencies to another exchange office or your private wallet. Fees depend solely on coins and exchanges because different exchange offices have a price difference module for transferring coins.

Major altcoins other than Bitcoin

As already mentioned, Bitcoin dominates the market with 38% market share, followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Stock exchanges like UnoDAX, Bitfinex, Kraken, Bitstamp have listed many other coins such as Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron and many others. If any of the coins fit your portfolio, you need to buy it.

But you have to put money into a market that you can afford to lose because the cryptocurrency market is very volatile and no government has control over it.

When to buy?

There is no hard and fast rule when buying your favorite cryptocurrency. But market stability needs to be explored. You shouldn’t except at the peak of the cryptocurrency bubble or when the price is continuously falling. The best time is always considered when the price is stable at a relatively low level for some time.

Cryptocurrency storage method

Before buying any cryptocurrency you need to understand how to keep your cryptocurrency safe.

Generally, all exchanges provide storage space where you can safely store your coins. You may not share your user data, password, 2FA when holding a cryptocurrency on the stock exchange.

Paper Wallet, Hardware Wallet, Software Wallet are some of the channels on which you can store your cryptocurrency.

Paper Wallet: A paper wallet is an offline method of cold storage to store your cryptocurrency. It prints your private and public key on a piece of paper where the QR code is also printed. All you need to do is scan the QR code for your future transactions. Why is it safe? You don’t have to worry about hacking your account or attacking any malware. You just need to keep your piece of paper safe in the locker and if possible keep two to three pieces of paper in your wallet under complete control.

Hardware Wallet: A hardware wallet is a physical device on which you keep cryptocurrencies safe. There are many forms of hardware wallet, but the most commonly used hardware wallet is USB. When you keep your cryptocurrency in your hardware wallet, you just need to keep in mind that you should not lose your hardware wallet because once you lose it you cannot get your cryptocurrency back.

One famous incident, where a person mined 7000+ bitcoins and stored them in their hardware wallet and kept it in another hardware wallet. One day he threw in a hardware wallet in which he stored his cryptocurrency instead of damaged hardware and lost all his bitcoin.

What can be bought from cryptocurrencies in India?

Most people assume that buying and selling any cryptocurrency is just for investing and achieving high returns in the long and short term. Influencers and bitcoin investors believe that in the coming years Bitcoin will dominate all fiat currencies and will be accepted as an international currency.

Dell is one of the largest e-commerce companies that accepts bitcoin as a payment. Expedia and UNICEF are other examples.

In India, Sapna Book Mall accepted bitcoin as a payment using the Unocoin trading service. People booked cinema tickets through BookMyShow or charged their cell phones using the Unocoin platform. According to the report, they have discontinued the service but plan to restart it in the near future.

conclusion:

Cryptocurrency is one of the growing investment sectors and gave better returns than real estate, gold, stock exchanges, etc. in the past. You can buy cryptocurrency and keep it in the long run to get good returns or go for the short term for a quick profit as we have seen the growth of many coins in 1000% + in the past. Because cryptocurrency is an unstable market and there is no government control over the industry. One has to invest an amount in any cryptocurrency he can afford to lose.

You can store your cryptocurrency in a hardware wallet, paper wallet, software wallet if you do not want to keep it on the stock exchange you are trading with.